Ceylon Chamber releases Outlook 2021 report

The Ceylon Chamber of Commerce last week launched its annual Outlook Report for 2021 at the Economy + Sector Review and Outlook 2021 webinar. The Outlook 2021 report published by the Economic Intelligence Unit (EIU) of the Ceylon Chamber of Commerce (CCC) explores the macroeconomic and sector outlook for the year ahead. The theme for the report is Driving Growth- Bridging Deficits.  The sectors covered include Apparel, Tourism, FMCG, Consumer Durables, Construction, Agriculture, Plantations, Fisheries, Dairy, Pharmaceutical, IT/BPM, Electronics and Electrical Sectors and Logistics. 

The sector coverage is compiled after interviews with sector experts and analysis of sector data. The report provides a review of the performance of the global and local economy and the above mentioned sectors and perspectives on the outlook ahead.

Presenting the Outlook 2021, Chamber Chief Economist Shiran Fernando highlighted that Sri Lanka will stage a recovery in growth in 2021 driven key industrial sector, improvement in domestic consumption and resurgence in the service sector. The low interest rate environment would be a key feature in the first half of 2021. It was also identified that some of the macro trends will be a key driver in the sector performances as well. 

Prior to the presentation and launch of the Outlook report, HSBC Securities and Capital Markets India Economist Aayushi Chaudhary presented on the global and regional economic performance. The two presenters then joined a panel discussion comprising Amal Cabraal who is presently Chairman and Non-Executive Director of multiple companies, Central Bank of Sri Lanka Economic Research Director Dr. Chandranath Amarasekara and Macro Economist and Asia Securities Co-Head – Research Lakshini Fernando. 

The panel discussion was moderated by CCC CEO and Secretary General Manjula de Silva.